Daily News Egypt

UN, Egypt discuss activation of $1.2bn funding deal till 2022 - Daily News Egypt

Advertising Area

Advertising Area

UN, Egypt discuss activation of $1.2bn funding deal till 2022

Egypt plays an international, regional strategic role, says UN deputy secretary general

The United Nations deputy secretary general, Amina Mohammed, discussed with Egypt’s Minister of Investment and International Cooperation (MIIC), Sahar Nasr, the activation of a strategic partnership agreement until 2022, by which Egypt would receive $1.2bn funding.

Both sides deliberated several joint developmental projects including supporting Sinai’s development, water sanitation, education system, and women’s empowerment, as well as the corporate social responsibility, a Tuesday statement of the MIIC said.

Egypt’s economic reform programme contributed in enhancing the economy, which was obvious through the positive indicators over the past period, Mohammed stated.

Egypt plays an international and regional strategic role in line with its presidency of the African Union (AU) which will boost the joint cooperation in the continent, she added, noting that the UN considers Egypt as a pioneering country in successful economic reform.

For her part, Nasr said that the Egyptian government focuses on boosting its partnership with the private sector in many developmental projects, pointing out that the authorities are implementing several regulatory reforms to enhance the country’s investment climate.

The government pays great attention to the social side of the reforms and offering the support to the neediest categories, the minister affirmed, noting, “We always try to make sure that the neediest people are receiving our direct and indirect support. We have several initiatives in this regard.”

Nasr called on the UN to focus more on the neediest areas in Egypt, reassuring the importance of the joint partnership with the UN, the statement mentioned.

Nasr also delivered Egypt’s speech at the ECOSOC Forum on Financing for Development follow-up (FfD Forum) before representatives from 110 countries, where she pointed out that president Abdel Fattah Al-Sisi set a comprehensive national vision for sustainable development in Egypt which matches the global sustainable development objectives.

“Egypt accomplished great success over its economic reform programme and the courageous reforms fruited. Many international financial institutions commended our reforms,” Nasr mentioned.

Nasr also called on the international community to tackle the challenges that face increasing African countries’ economic growth, affirming the importance of the elimination of technology transfer barriers in developing countries.

Egypt will support African countries’ regional integration throughout its presidency of the AU, making sure that the private sector is well-involved in the developmental process, Nasr added.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter